I would hardly describe the conference call as spectacular. Yes, their EPS beat analyst estimates. However, top line revenues are down YoY and so are earnings if you dismiss the income tax benefit. Finally, Daily Average Revenue Trades (DARTS), the prime source of income for these kinds of discount brokerage firms are also down YoY. This last part should be of no particular surprise given the extremely low volume involved in the overall market for several weeks now.
I'm not short; I closed my ETFC positions days ago. But if you were looking for a huge gap tomorrow, I would perhaps lower my expectations as I said, this was more mixed than anything.